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if obama wants to take the country off the fiscal cliff, they need to go there. they seem afraid of that. do you see that. >> it's clear from the election that the majority of americans essentially voted for european levels of spending. you can't have european levels of spending. we're one percent under canada. there's no difference any more, not in terms of government spending. we're close to norway. we're not quite to sweden yet, but we basically are spending like europeans, but we're not taxed like that. the idea that you can close that gap, i think he figured out if he can make this level of spending permanent, he changes the united states into a european socialism democracy and he'll be the most congress consl president of the last hundred years. >> it seems like we're close. we're right on the edge with all of the predictable results. >> i think you can be spee den if you -- sweden. he's risking ruin on a scale unknown, and of course, the other obvious point is that the youeuropeans are only able to do that because in fact the us army lives in germany and a
if obama wants to take the country off the fiscal cliff, they need to go there. they seem afraid of that. do you see that. >> it's clear from the election that the majority of americans essentially voted for european levels of spending. you can't have european levels of spending. we're one percent under canada. there's no difference any more, not in terms of government spending. we're close to norway. we're not quite to sweden yet, but we basically are spending like europeans, but we're...
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Nov 29, 2012
11/12
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cliff argument, the solution -- there is no economic growth. not possible with what's being proposed. in fact just the exact opposite. obama does not care about economic growth. he cares about wealth transfers, redistribution. >> it's obvious that he's going to have to stand behind some significant changes in entitlements, and i think what they're asking him is what is your plan? >> there has to be an agreement. there has to be an agreement, i believe, that everybody knows what the possibilities are, so let's just do it. >> the work has to be done. that work is being done. everybody needs to, as the president said, agree to the principle, that compromise will require tough choices by each side. >> we have done our part. we have put revenues on the table, something that we didn't do two years ago during the debt ceiling negotiations. >> i am ready and able and willing and excited to go ahead and get this issue resolved in a bipartisan fashion, so that american families, american businesses, have some certainty going into next year. >> this is no
cliff argument, the solution -- there is no economic growth. not possible with what's being proposed. in fact just the exact opposite. obama does not care about economic growth. he cares about wealth transfers, redistribution. >> it's obvious that he's going to have to stand behind some significant changes in entitlements, and i think what they're asking him is what is your plan? >> there has to be an agreement. there has to be an agreement, i believe, that everybody knows what the...
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Dec 6, 2012
12/12
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>> if you take them at their word, it sounds like the president is anxious to go over the fiscal cliff, and he leaves very little room for republicans to negotiate with him with a 1.7 trillion dollar tax increase, 50 billion more in stimulus spending, and absolutely no expenditure reductions that are going to take place right now. i mean, from the point of view of republicans, you're going to get more spending decreases if you go over the fiscal cliff than if you deal with president obama. >> greta: well, it appears to many in the city that it's politico check mate for the president. if we go over the fiscal cliff, what it means is the taxes will go up on the wealthy, the big earners. it also goes up on the middle class. i assume the middle class will look to the rawp republicans foe fact that their taxes come up so political check mate. >> i'm not so sure. president obama could avoid that very simply by putting maybe two or three to one expenditure reductions on the table for revenue increases, something like sim responsibl simpson bow. he has a formula given to him by a commission he
>> if you take them at their word, it sounds like the president is anxious to go over the fiscal cliff, and he leaves very little room for republicans to negotiate with him with a 1.7 trillion dollar tax increase, 50 billion more in stimulus spending, and absolutely no expenditure reductions that are going to take place right now. i mean, from the point of view of republicans, you're going to get more spending decreases if you go over the fiscal cliff than if you deal with president...
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Dec 4, 2012
12/12
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with that they proposed a bold counter offer for averting the fiscal cliff. the republican plan seeks $800 billion through tax reform and mandatory spending cuts. the white house said that the republican proposal falls short of what the president wants and cannot be taken seriously. >> we understand they don't agree with everything but we have not seen alternatives for them and they spoke about the need for revenue and that acknowledgment is welcome. but thus far republicann leaders are adament don't believe rates should go up on the top two percent of the american people. the american people disagree. rates have to rise and the republicans need to acknowledge that. >> that's the major difference between the two sides. tax hikes for the rich x. republicans want tax reform and eliminate deductions and closing the loop holes. the president said on twitter, there can't be tax cuts at the rich at the expense of domestic programs. >> the biggest problem with president obama is he is a small-pinded president in big times . he talk about 35-39 that doesn't get us ou
with that they proposed a bold counter offer for averting the fiscal cliff. the republican plan seeks $800 billion through tax reform and mandatory spending cuts. the white house said that the republican proposal falls short of what the president wants and cannot be taken seriously. >> we understand they don't agree with everything but we have not seen alternatives for them and they spoke about the need for revenue and that acknowledgment is welcome. but thus far republicann leaders are...
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Dec 4, 2012
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and the president act so-called fiscal cliff. on the senate floor today, top senate democrat, here he was, harry reid, said the republican counteroffer unveiled yesterday is a serious proposal. reid called the offer a nonstarter. his word. but a serious proposal nonetheless. in an interview just today with bloomberg tv, president obama did not reject the gop offer outright. officials have called it a step backward, not worthy of a counteroffer. but, you know, bottom line here, you have two sides they appear to be pretty far apart with no new negotiations happening at least not to our knowledge. so, with me now from capitol hill is representative peter wel welch. democrat from vermont. good to see you. thanks for coming on. >> thank you. >> so let me just pose this one to you. you just heard harry reid, would you agree with harry reid the plan offered yesterday by that house speaker is, quote unquote, a serious plan? >> well, you know, i don't know the details of it. it is $800 billion supposedly in revenues and it is a lot of med
and the president act so-called fiscal cliff. on the senate floor today, top senate democrat, here he was, harry reid, said the republican counteroffer unveiled yesterday is a serious proposal. reid called the offer a nonstarter. his word. but a serious proposal nonetheless. in an interview just today with bloomberg tv, president obama did not reject the gop offer outright. officials have called it a step backward, not worthy of a counteroffer. but, you know, bottom line here, you have two...
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Dec 6, 2012
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a series of tax cuts and spending cuts set to kick in just 26 shopping days until the fiscal cliff. >> brian: less working days. >> steve: that's right. house republicans say there will be no deal if tax ritz go up and the obama administration says it's ready to go thelma and louise style over the cliff on january 1. if that's the case, wendell goler live at the white house with what we know is going on behind the scenes. anything happening? >> steve, the president and house speaker john boehner talked on the phone yesterday, but they agreed not to characterize their conversation. so it's unclear how much progress they made. from the outside, it does seem they've moved a bit closer with boehner now agreeing to raise tax collection from the wealthy, though not by raising tax rates. >> we've got to cut spending and i believe to put revenues on the table. the revenues we're putting on the table will come from, guess who, the rich! there are ways to limit deductions, close loopholes, and have the same people pay more of their money to the federal government without raising tax rates which
a series of tax cuts and spending cuts set to kick in just 26 shopping days until the fiscal cliff. >> brian: less working days. >> steve: that's right. house republicans say there will be no deal if tax ritz go up and the obama administration says it's ready to go thelma and louise style over the cliff on january 1. if that's the case, wendell goler live at the white house with what we know is going on behind the scenes. anything happening? >> steve, the president and house...
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Dec 4, 2012
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thanks. >>> the fiscal cliff debate hitting a new low. 28 days tax hikes and spending cuts will create a lot of pain for nearly every american if a deal does not get done. republicans offering up a counterproposal to the president that calls for $2.2 trillion in deficit savings over the next decade. it includes $800 billion in tax reforms. $600 billion for medicare reforms. and $600 billion in spending cuts. but it does not contain tax hikes for the wealthiest americans. so the president immediately dismissed it. and if you want to know just how far apart the two parties are, this should clear it up for you. >> i think we're going over the cliff. >> it's unfortunate that the white house has spent three weeks doing basically nothing. >> what we can't do is kind of figure out what works for them. >> the president's idea of a negotiation is roll over and do what i ask. >> it's pretty clear to me they've made a political calculation. >> their ideas are different from ours, we can't guess what they are. >> we look forward to the time when they are specific. >> they need to be more specific.
thanks. >>> the fiscal cliff debate hitting a new low. 28 days tax hikes and spending cuts will create a lot of pain for nearly every american if a deal does not get done. republicans offering up a counterproposal to the president that calls for $2.2 trillion in deficit savings over the next decade. it includes $800 billion in tax reforms. $600 billion for medicare reforms. and $600 billion in spending cuts. but it does not contain tax hikes for the wealthiest americans. so the...
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Dec 7, 2012
12/12
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if congress allows the country to go over the fiscal cliff, the effects felt here could be dramatic. first and foremost, there's the rock island arsenal. if congress doesn't act, defense spending will be slashed by 55 billion next year, 450 billion over ten years, which many fear could put the arsenal in jeopardy. established in 1862, the arsenal is home to the army sustainment command, the first army, and the national cemetery. it's also the largest government run military manufacturing facility in the country. the arsenal is the area's largest employer, and though it is not clear how any cuts would impact the installation specifically, the mere prospect has people worried. >> there's approximately 8,000 jobs on arsenal island with various commands located there, and the average salary, not including benefits is about double on the island what it is off island. >> reporter: next, health care, another major employer in the quad cities. if congress doesn't act, medicare reimbursements will initially drop by 2%. trinity medical center in rock island is already budgeting for the fiscal
if congress allows the country to go over the fiscal cliff, the effects felt here could be dramatic. first and foremost, there's the rock island arsenal. if congress doesn't act, defense spending will be slashed by 55 billion next year, 450 billion over ten years, which many fear could put the arsenal in jeopardy. established in 1862, the arsenal is home to the army sustainment command, the first army, and the national cemetery. it's also the largest government run military manufacturing...
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the effects of the fiscal cliff are already holding back some things. >> of course. what stood out to me from howard schultz, the people that need it the most, the average american will feel this to the core. confidence is the corner stone. >> it makes you make decisions, big decisions, small decisions. i'm not going to buy that or do that, i'm scared to death. here's my question for the two of you. are more big ceos falling in line with the yes, let's raise the taxes on the 2%? >> if i don't know if a majority. would you say a majority? >> i think they want a deal and people have to make -- it's hard to make compromises. >> we've heard it from goldman sac sachs, warren buffett, schultz. >> big names there. >> they want clarity. the interesting thing to me, the stock market and bond market haven't freaked out yet about this. people in the stock market saying they're not stupid enough to let us go there. >> to let this happen. >> i hope they'll get something done. >> gosh, i hope so. >> thank you. >>> 25 minutes past the hour. an awards season shocker at the company t
the effects of the fiscal cliff are already holding back some things. >> of course. what stood out to me from howard schultz, the people that need it the most, the average american will feel this to the core. confidence is the corner stone. >> it makes you make decisions, big decisions, small decisions. i'm not going to buy that or do that, i'm scared to death. here's my question for the two of you. are more big ceos falling in line with the yes, let's raise the taxes on the 2%?...
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Dec 3, 2012
12/12
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cliff. they are going nowhere fast. democrats, they're basically telling republicans, hey, ball's in your court. we'll take you live to the white house for that. also, as the city grieves over an nfl player's tragic breaking point, new debates today about gun control and domestic violence. you'll hear both. but first, the u.s. has long believed syria has a huge stockpile of chemical weapons. now new concerns that chemical arsenal is on the move. secretary of state hillary clinton today issuing another stern warning against syria, using these weapons. the syrian foreign ministry quick to respond here saying it would not use chemical weapons against its people if it had any, but this announcement as turkey is sending warplanes to its border with syria after the syrian military bombed a nearby town of ras al-ain. you can hear that and see the smoke. this is the turkish side of the border. this is fueling more fears that more of syria's violence will spill into its neighbor to the north, being t
cliff. they are going nowhere fast. democrats, they're basically telling republicans, hey, ball's in your court. we'll take you live to the white house for that. also, as the city grieves over an nfl player's tragic breaking point, new debates today about gun control and domestic violence. you'll hear both. but first, the u.s. has long believed syria has a huge stockpile of chemical weapons. now new concerns that chemical arsenal is on the move. secretary of state hillary clinton today issuing...
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we need to avoid the fiscal cliff. >> one thing you want javier to agree to, to avoid the fiscal cliff. >> we need to have the spending cuts. >> give me an example? >> well, it is looking at the spending, entitlement reform, and growth in government. the president is moving in the wrong direction. he proposed higher taxes than he ever said during the campaign, more stimulus, more spending, that's moving us in the wrong direction. >> go ahead and respond. >> how much spending cuts do we want to see? i could tally up for you right now, $3 trillion with the spending cuts that we already enacted in law in the last year and a half. $1 trillion that came from the budget control act that was passed a year ago, that said a trillion dollars has to start coming up now, and that has begun. another trillion dollars which is going to be enacted through the sequester. we still have them. and we can move forward. that's another trillion, 1.2 trillion. let me give you the other 800 billion. we cut -- democrats without a republican vote, $716 billion in -- and we found $716 billion in savings through m
we need to avoid the fiscal cliff. >> one thing you want javier to agree to, to avoid the fiscal cliff. >> we need to have the spending cuts. >> give me an example? >> well, it is looking at the spending, entitlement reform, and growth in government. the president is moving in the wrong direction. he proposed higher taxes than he ever said during the campaign, more stimulus, more spending, that's moving us in the wrong direction. >> go ahead and respond. >>...
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Dec 5, 2012
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. >>> up first, president obama standing his ground over the fight in the fiscal cliff. americans face crushing tax hikes and severe spending cuts in 27 days if democrats and republicans cannot come together on a deal. by the way, congress breaks for the holidays in ten days. slash that number. in an interview with bloomberg news, the president made it crystal clear he's not about to blink on the issue of tax hikes for the wealthiest americans. >> we'll have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> white house correspondent dan lothian joins us live from washington this morning. very nice to see you, dan. >> good to see you. >> here's the deal. we have republicans pitted against democrats. now we understand there are issues amongst republicans as well. >> that's right. they're in a tough spot here. they don't want to be in left in a position of being blamed for the fiscal cliff. you're seeing a division between house members and senate members. the reason for this is mainly over the 800 billion in new tax revenue.
. >>> up first, president obama standing his ground over the fight in the fiscal cliff. americans face crushing tax hikes and severe spending cuts in 27 days if democrats and republicans cannot come together on a deal. by the way, congress breaks for the holidays in ten days. slash that number. in an interview with bloomberg news, the president made it crystal clear he's not about to blink on the issue of tax hikes for the wealthiest americans. >> we'll have to see the rates on...
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Dec 2, 2012
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that's how i want to solve the fiscal cliff problem, is spending more taxpayer money. so, the president doesn't have the authority to raise the debt ceiling, he shouldn't have the authority. congress, as you all mentioned earlier is in charge of the money, the purse in the united states. >> dave: of course, there wasn't just that ability to continuously raise the debt ceiling, and 1.6 trillion in new taxes, 50 billion in new stimulus spending, to mention a couple of provisions in his offer. is there any, any room for compromise where we are right now in avoiding the fiscal cliff? >> well, there will have to be some compromise, there will have to be some plan, but the president's proposal is so ridiculous. the idea that he's going to raise taxes, really fwe just followed his plan, wouldn't solve the problem anyway, because the spending is so much. and that he wants to spend more money, he wants to-- another stimulus bill. the first one didn't work well for the country, but yet, we cannot spend our way into prosperity and tax our way into prosperity, which is what the pr
that's how i want to solve the fiscal cliff problem, is spending more taxpayer money. so, the president doesn't have the authority to raise the debt ceiling, he shouldn't have the authority. congress, as you all mentioned earlier is in charge of the money, the purse in the united states. >> dave: of course, there wasn't just that ability to continuously raise the debt ceiling, and 1.6 trillion in new taxes, 50 billion in new stimulus spending, to mention a couple of provisions in his...
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cliff and talking about raising taxes that will not put a dent in the spending, so what is the answer? >> gretchen: the suggestion i make let's go back to the programs we had five or six years ago. there was a safety net five or six years ago. if you lost your job in 2006, you got some help but not the type of help people have got since then. we go back to that situation and maybe we have a hope much having a labor market go back to the way it was five or six years ago. >> gretchen: professor which politician, republican or democrat is going to be doing what you just said? >> not the ones from my district. >> gretchen: i mean, they are in eight bind are they not? republicans and democrats are in a bind. will be the one to come to the podium and say let's stop those unemployment benefits. >> it is a bind and the europeans worked it out before . they found helping for the unemployed is politically popular and economically damaging and they did it for decade upon decade and continue to do it. and so yeah, i am not optmistic that we will go back to where we were five years ago it is feasi
cliff and talking about raising taxes that will not put a dent in the spending, so what is the answer? >> gretchen: the suggestion i make let's go back to the programs we had five or six years ago. there was a safety net five or six years ago. if you lost your job in 2006, you got some help but not the type of help people have got since then. we go back to that situation and maybe we have a hope much having a labor market go back to the way it was five or six years ago. >> gretchen:...
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but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of getting close to it, the president has to be able to pivot and to say how do i turn this political advantage into a real policy accomplishment? and, wolf, i don't think you're going to do that with continued campaign style events like we just saw meeting with middle class families. okay. we get that. that occurred during the campaign. the white house has clearly gotten its message out. i think now there has to be a next step. you know, timing is everything in politics. and this is absolutely no different. what i'm getting from talking to some democrats on the hill is i think there's actually a lot of pen
but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of...
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Nov 30, 2012
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and the domestic spending cuts. fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the republican position, the republicans campaigned against $716 million in medicare cuts from the current program. republicans for medicare reform. not for squeezing the current program. they will say i want to give the middle class, make sure the middle class tax rate stay where they are. i don't want the republicans to squeeze medicare more than we did, have done in the past. i'm worried. that the president has an awful lot of leverage. >> bret: but you have the democrats, juan, like mike pryor of arkansas who told politico this -- "as you know people around here like the
and the domestic spending cuts. fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the...
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Dec 6, 2012
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go over the fiscal cliff. take $1.2 trillion out of spending and tax hikes, stops the spending. mandatory spending cuts across the board. you know what? the only way to do it. only way to do it. everything else is chump change. >> dana: how do you deal with deficit reduction if you raise the taxes on a portion of the country that will pay for the government for 8.5 days? >> bob: you couple that with the social security adjustments and medicare. 'canes that is not what geithner put on the table. >> dana: that is going to be on -- >> bob: that is what is going to be on the table. >> dana: republicans held their feet on the fire. >> bob: whatever it took. >> greg: i used to think howard dean was a proctologist because he had his head up his butt but he pulled the curtain back. it's never about raising taxes on the rich because you run out of rich. >> andrea: right. >> greg: that is the point. >> eric: raise tax on everyone who pays taxes or everyone? everyone means the poor and 47% will start paying. >> greg: if you raise taxes up 2%, eight days of government? >> andrea: the dirty
go over the fiscal cliff. take $1.2 trillion out of spending and tax hikes, stops the spending. mandatory spending cuts across the board. you know what? the only way to do it. only way to do it. everything else is chump change. >> dana: how do you deal with deficit reduction if you raise the taxes on a portion of the country that will pay for the government for 8.5 days? >> bob: you couple that with the social security adjustments and medicare. 'canes that is not what geithner put...
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Nov 29, 2012
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say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from entitlement reform will not be part of the talks while pelosi spell noncommittal whether the cuts will be in the deal. still, the administration is trying to breathe life to the talks, with vice president biden shopping at new costco in washington, picking up a big screen tv and apple pie and insisting he is optimistic of a deal. >> i am. i am. all the folks in the store, man. going to make a difference. >> carney shot down a politico report that a phone call last night between boehner and the president was curt, noting it was 28 minutes long and productive. signaling the president is flexible on taxes not being
say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from...
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Dec 3, 2012
12/12
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i think the fiscal cliff we are spending a lot of time on and we will continue to see deleveraging of trades that have worked because of all of the tax implications. i don't think you can be sure this is the same santa claus rally that you want to blindly buy. last year was very painful to people who thought fundamentals would win out. you ran into deleveraging flows that were related to policy. if you don't think we are not going to have policy issues through the end of the year you are crazy. >> i think we all do the same, i believe that you can time the market and pick stocks. i know people believe that. it is interesting that today we talked about ranges in the s&p. i think we have done a good job. look at where we traded up to that 1425 that we have talked about being resistance number of times. i don't want to make a big deal out of this. today was an outside day from friday's range the low, lower than friday's low. it has been in a very defined range. i think we traded towards the upper end and i think we are heading twarts the 1375 and 1380 level again. you trade that range un
i think the fiscal cliff we are spending a lot of time on and we will continue to see deleveraging of trades that have worked because of all of the tax implications. i don't think you can be sure this is the same santa claus rally that you want to blindly buy. last year was very painful to people who thought fundamentals would win out. you ran into deleveraging flows that were related to policy. if you don't think we are not going to have policy issues through the end of the year you are crazy....
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cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with speci perks on united. get it and you're in. why does my mouth feel dryer than i remember it to be? there are more people taking more medication, so we see people suffering from dry mouth more so. we may see more cavities, bad breath, oral irritation. a dry mouth sufferer doesn't have to suffer. i would recommend biotene. the enzymes in biotene products help supplement enzymes that are naturally in saliva. biotene helps moisten those areas that have
cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay,...
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Dec 4, 2012
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cliff counter offer on tax reforms and spending cuts. the gop plan consists of $2.2 trillion in saving officials a decade including raging the age for medicare from 65 to 67 and lowering the cost of living increases for social security benefits. they also propose overhauling the tax code to generate $800 billion in new revenue but without raising taxes on the wealthy. frn in a letter to the president, republicans attempted to sell the offer as the erskine bowles plan, comparing it to the same offer he drew up last year. >> i think he'd disagree. >> the co-chair of obama's deficit commission, but yesterday mr. bowles flatly rejected that connection. meanwhile, the white house is turning to campaign style messaging as a reminder of whose tax plan was chosen in the court of public opinion on election day. >> under my plan, first of all, 98% of folks who make less than 250,000, you wouldn't see your income taxes go up a single dime. all right? because you're the ones who need relief. but we're not going to be able to get it done unless we al
cliff counter offer on tax reforms and spending cuts. the gop plan consists of $2.2 trillion in saving officials a decade including raging the age for medicare from 65 to 67 and lowering the cost of living increases for social security benefits. they also propose overhauling the tax code to generate $800 billion in new revenue but without raising taxes on the wealthy. frn in a letter to the president, republicans attempted to sell the offer as the erskine bowles plan, comparing it to the same...
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Dec 1, 2012
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no matter how close the country comes to plunging off the fiscal cliff, topped a visors say the president will not budge until republicans acknowledge they will keep tax rates where they are for middle income families and raise them on households earning more than $250,000 a year. >> in washington nothing's easy so there's going to be prolonged negotiations. and all of us are going to have so get out of our comfort zones to make that happen. g'm willing to do that. i'm hopeful that enough members of con willing to do that as well. we can solve these problems. but where the clock is really ticking right now is on middle- class taxes. >> reporter: but the clock isng. the cold political reality is this: mr. obama is now on record seeking twice as much in higher tax revenue than the democratically controlled senate passed earlier this year with only 51 votes. tax increases that cannot pass ase senate have no chance in the house republican conference, which is why republicans regard the president's proposal and his heech today as more static than substance. >> pelley: major, thank you. well, t
no matter how close the country comes to plunging off the fiscal cliff, topped a visors say the president will not budge until republicans acknowledge they will keep tax rates where they are for middle income families and raise them on households earning more than $250,000 a year. >> in washington nothing's easy so there's going to be prolonged negotiations. and all of us are going to have so get out of our comfort zones to make that happen. g'm willing to do that. i'm hopeful that enough...
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Dec 5, 2012
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period well before the fiscal cliff concerns became center stage. i think those economic detier a's, components probably lead to reduced employment, and reduced consumers spending starting in the first quarter. this is an economic deterioration, probably amplified by the policy concerns, but nonetheless that has occurred, and is forcing our earnings numbers lower. we're now at 10 as a good example. >> you've managed to make adam parker look like a bull. you're looking for 1390 in the s&p for next year. he had 1167, but he's looking to 1434. >> so far, i think there are a number of folks that have yet to come out, but unfortunately we have to live with that status for a while. quite frankly investors are not being paid a ton. we start to rebound -- we'll have to get more optimistic. >>> good to talk with you as always. >> thanks for having me. >> see you soon. >>> what's going on with this rally? up 125 on the dow. so the kind of stocks that are moving today? >> i think it's really important to keep in mind so much of this year, when they write the t
period well before the fiscal cliff concerns became center stage. i think those economic detier a's, components probably lead to reduced employment, and reduced consumers spending starting in the first quarter. this is an economic deterioration, probably amplified by the policy concerns, but nonetheless that has occurred, and is forcing our earnings numbers lower. we're now at 10 as a good example. >> you've managed to make adam parker look like a bull. you're looking for 1390 in the...
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Nov 30, 2012
11/12
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insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same old same old. where do we go from here? >> that's the big question. the nice talk after the election is pretty much gone away. you mentioned one of the big sticking points, that's taxes. republicans and democrats can't agree on how to raise the tax revenue? end the bush tax cuts for the wealthy, close the loopholes, raise the capital gains taxes or all of the above. right now, they can't agree on how much money should be
insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats...
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Dec 2, 2012
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we go over the so-called fiscal cliff. and massive government spending cuts. >> and some people fear going off of the cliff could cost thousands of jobs and push our fragile economy back in recession. it seems like we have been down this road before. that deal according to the president and congressional republicans is far from a sure thing. the president said it was a so-called balanced approach to solve this crisis and what he proposed this week was a classic bait and switch on the american people. >> it is unacceptable for republicans to hold middle class tax hostage because they refuse to let them go up on the wealthiest americans. >> people saying that the deal he offered doesn't look like a deal. steve is live in the washington bureau. is there any movement on either side. >> not much. a few republicans who are willing to talk about higher tax rev news but not higher tax rates. the president made a direct appeal to the public. the toy factory in pin pen. he urged congress to pass a bill and extend the era tax cuts fo
we go over the so-called fiscal cliff. and massive government spending cuts. >> and some people fear going off of the cliff could cost thousands of jobs and push our fragile economy back in recession. it seems like we have been down this road before. that deal according to the president and congressional republicans is far from a sure thing. the president said it was a so-called balanced approach to solve this crisis and what he proposed this week was a classic bait and switch on the...
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Dec 1, 2012
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washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had this or struck by lightning and the odds are about the same. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ malennouncer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ]
washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had...
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Dec 6, 2012
12/12
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as you well know, we face the fiscal cliff, a series of tax hikes and spending cuts that many people think if they go into effect will put the country into recession. yet we heard the treasury secretary tim geithner say the president is willing to see the country go off the fiscal cliff if republicans do not accede to his demands. >> it's probably pretty real. but you can't get to where we need to go by cutting spending, that won't cut it. you're going to destroy a fragile economy. you can't get there by taxing your way into it and you can't grow your way out of this. you have to have a blend. when you have leaders of parties and people from the administration saying i think it will be to the advantage of the democrats to go off the cliff or i think it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. this is big-time stuff. >> let me ask you about a report that some republicans now are perhaps willing to see the tax rates rise to some degree on top earners in exchange f
as you well know, we face the fiscal cliff, a series of tax hikes and spending cuts that many people think if they go into effect will put the country into recession. yet we heard the treasury secretary tim geithner say the president is willing to see the country go off the fiscal cliff if republicans do not accede to his demands. >> it's probably pretty real. but you can't get to where we need to go by cutting spending, that won't cut it. you're going to destroy a fragile economy. you...
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Dec 4, 2012
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the entire scenario playing out is the fiscal cliff ends up being bullish no matter what. spending cuts makes bonds rise, yields fall and making stocks paradoxically even more attractive. they become the new bonds. >> alan, can you tell from option activity which way the markets are betting right now, presuming that not going over the fiscal cliff would be positive for stocks and going over the cliff would be negative? what's the market betting on right now? >> well, i won't even make that presumption because we don't focus on what the event is. we focus on how the market is going to react. the vix has increased a little over the last week or so, but it's still at a historically low level. i think i'm very encouraged by the price action we've seen where we made this bottom and followed through last week, which is key, and we're holding strong this week. i i think the key for the market is to follow the dollar. we're below 80. that can really add another boost to the markets over the longer term. that's positive for corporations to get some more growth out of this overall s
the entire scenario playing out is the fiscal cliff ends up being bullish no matter what. spending cuts makes bonds rise, yields fall and making stocks paradoxically even more attractive. they become the new bonds. >> alan, can you tell from option activity which way the markets are betting right now, presuming that not going over the fiscal cliff would be positive for stocks and going over the cliff would be negative? what's the market betting on right now? >> well, i won't even...
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Dec 5, 2012
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the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with eric's take? is the right strategy for republicans to stick to their guns, forget about compromise? >> no. i really don't -- eric is one of my favorite people. we talk a lot. but i think that, and i did work for the speaker gingrich during the shut-down fight in '96, and it did not work out well for republicans. the president has a much bigger bully pulpit than the speaker does. newt gingrich's bully pulpit was pretty big back in those days but at some point, republicans in the house -- and i think boehner is trying to look for ways to do this, speaker boehner,
the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with...
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but that's just one part of the fiscal cliff debate. the other side of this, the massive spending cuts that have now educators ringing the alarm. they warn of increased class sizes, the elimination of after-school and summer school programs, libraries could close, all this as the u.s. tries to close an achievement gap. joining me now to continue our education nation conversation, world-renowned educator dr. steve perry, also host of tv one's "save my son." steve, it's great to have you here. the secretary of education, arne duncan, has said that 9 million students would be affected by the cuts including nearly 2 million that are already living in this country in poverty. when we talk about special education needs for the kids of our country, we're essentially about to take away resources from the students that need it most. however, we're not talking enough about that. >> one of the reasons why there's even a conversation about cuts is not so much because there's less money coming in, it's because of so much money going out. where we sp
but that's just one part of the fiscal cliff debate. the other side of this, the massive spending cuts that have now educators ringing the alarm. they warn of increased class sizes, the elimination of after-school and summer school programs, libraries could close, all this as the u.s. tries to close an achievement gap. joining me now to continue our education nation conversation, world-renowned educator dr. steve perry, also host of tv one's "save my son." steve, it's great to have...
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Dec 1, 2012
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cliff negotiations. 67% expect cringe-worthy immaturity. they don't have much faith in the congress, and they're crying out for a balanced approach. the same poll found 67% want a budget deal with a mix of spending cuts and tax increases, not just spending cuts alone. >>> back to that pledge. that pledge never to raise taxes. the rose grover nordqvist -- they aren't in this pledge. >> i pledge allegiance to the flag of the united states of america. >> and a few brave lawmakers are beginning to acknowledge that their constituents may want flexibility. >> i answer to my constituents, not to a pledge. my constituents certainly don't want me to come to washington to raise their taxes, but
cliff negotiations. 67% expect cringe-worthy immaturity. they don't have much faith in the congress, and they're crying out for a balanced approach. the same poll found 67% want a budget deal with a mix of spending cuts and tax increases, not just spending cuts alone. >>> back to that pledge. that pledge never to raise taxes. the rose grover nordqvist -- they aren't in this pledge. >> i pledge allegiance to the flag of the united states of america. >> and a few brave...
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. >> reporter: telling agencies to watch for massive spending cuts from going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if congress in any way suggests that they are going to tie negotiations to debt ceiling votes, take us to brink of default again, i will not play that game. >> republicans held their own meeting with small business owners denying they're trying to punt. >> i'll be here and available at any moment to sit down with the president to get serious abouting the problem. >> they noted the president has not scheduled any meetings with the g.o.p. leaders in weeks. not offered any counterproposal to boehner's plan from last week. >> a balanced approach the president has been asking for. now we need response from the white house. >> reporter: they continue to insist the impediment to the deal is boehner's tax revenue is not
. >> reporter: telling agencies to watch for massive spending cuts from going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if congress in any way suggests that they are going to tie negotiations to debt ceiling votes, take us to...
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be part of these fiscal cliff talks. where it may break down on the part about whether the president will push democrats on capitol hill to go along. it was tuesday that dick durbin said spending cuts, medicare cuts, ets, should not be part of these fiscal cliff cuts. we'll see whether durbin and others on the hill go along with what jay carney is saying. we'll see if that improves the possibility of a deal. megyn: we have 33 democratic lawmakers saying we are not touching social security now or for the future. this jackhammer is really rude. >> reporter: the cuts are being made as we speak. it's hard to cut the government. megyn: alert frank, the two guys features in your first report. someone else came to the white house hat must have been an extraordinary moment. mitt romney and obama get together. for me it's awkward that they had the meeting at the white house. was that mean? shouldn't they have don't at a tgif. neutral ground? not to rub his nose in the place that he wanted to live. >> reporter: given romney's fina
be part of these fiscal cliff talks. where it may break down on the part about whether the president will push democrats on capitol hill to go along. it was tuesday that dick durbin said spending cuts, medicare cuts, ets, should not be part of these fiscal cliff cuts. we'll see whether durbin and others on the hill go along with what jay carney is saying. we'll see if that improves the possibility of a deal. megyn: we have 33 democratic lawmakers saying we are not touching social security now...
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Nov 30, 2012
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the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that? >> because the president thinks he has a mandate from the whole country. he thinks he can get anything he wants. i am sure that alan colmes loves this idea. here are the problems. the congress has the authority to authorize the debt. they also have the authority to authorize the bill that pays the debt. so now the president wants to take that away. this guy has shown a tendency to say that i don't need congress. i can pass laws with a stroke of a pen on executive orders. he doesn't need the supreme court because he declares laws unconstitutional, like doma. he says he wants an unlimited credit car
the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that?...
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Dec 4, 2012
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i'm certain if this is not good enough for the white house, we will go over the fiscal cliff. >> this is a compromise on taxes. this is a compromise on mandatory spending. and it's a compromise on discretionary spending over what the select committee had debated. >> i should mention that erskine bowles has put out a statement himself. while i'm flattered the speaker would call something the bowles plan. the outline in the letter the speaker sent to the president does not represent the bowles simpson plan, nor is it the bowles plan in my testimony on deficit reduction. i simply took the mid point of the public offers, put forward during the negotiations to demonstrate where i thought a deal could be reached at the time. he's very much backing away from speaker boehner's letter. the question i wanted to ask you is some of the details, as you know, it's all in. >> can we spin one more point on that? >> absolutely. >> here's speaker boehner who is taking a mid point on the compromise between the two sides and offered it, and it's already flatley rejected? >> i think he may be rejected, si
i'm certain if this is not good enough for the white house, we will go over the fiscal cliff. >> this is a compromise on taxes. this is a compromise on mandatory spending. and it's a compromise on discretionary spending over what the select committee had debated. >> i should mention that erskine bowles has put out a statement himself. while i'm flattered the speaker would call something the bowles plan. the outline in the letter the speaker sent to the president does not represent...
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. >>> as each day ticks by, the nation edges closer to going over the fiscal cliff. democrats and republicans cannot agree how to raise revenue and cut spending. on january 1st, as many of you know, taxes go up and doeep spending cuts take effect. the sunday talk shows reflect how far apart they are what we will not do is extend those tax cut force the wealthiest americans. there's no possibility that we will find a way to get our fiscal house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making a concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> speaker boehner added he is flabbergasted by the administration's proposals while secretary geithner said he believes a deal can be reached by the end of the year. >>> we could find out this morning if the supreme court will take up the issue of same-sex marriage. at 9:30 eastern, the court releases its orders list. there's a possibili
. >>> as each day ticks by, the nation edges closer to going over the fiscal cliff. democrats and republicans cannot agree how to raise revenue and cut spending. on january 1st, as many of you know, taxes go up and doeep spending cuts take effect. the sunday talk shows reflect how far apart they are what we will not do is extend those tax cut force the wealthiest americans. there's no possibility that we will find a way to get our fiscal house in order without those tax rates going...
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it's because the company blamed the fiscal cliff for its dramatically lower fiscal fourth quarter guidance which has sent the stock plummeting. it was down as much as 20% earlier today. the ceo joe kennedy says advertisers are being particularly cautious about spending in january which is included in pandora's fiscal fourth quarter. >> we did reduce guidance. i think it is very prudent because of this unique situation we have in which we're sensitive to the mix of ad spend in january as opposed to february and march. >> now, the last time pandora's stock dropped this much in one day was back in october on reports of apple preparing to launch a streaming music service. wall street analysts are keeping an eye on those very tough competitive issues as well as the fact that pandora spends over half its revenue on music licensing fees. the c.o.o. says he thinks the company is on good track and points to its mobile growth. though, investors do seem skeptical. brian. >> julia, thank you very much for that. we're going to leave it there. running a little short on time. is pandora's plunge a big bu
it's because the company blamed the fiscal cliff for its dramatically lower fiscal fourth quarter guidance which has sent the stock plummeting. it was down as much as 20% earlier today. the ceo joe kennedy says advertisers are being particularly cautious about spending in january which is included in pandora's fiscal fourth quarter. >> we did reduce guidance. i think it is very prudent because of this unique situation we have in which we're sensitive to the mix of ad spend in january as...
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they want to go off of the fiscal cliff. then negotiations fail president obama will not get blamed. it is someone else. >> gretchen: marjorie that sounds right other than the middle class getting hit with a tax hike isn't everything that ron just part of the dnc. >> it is it a big issue. president obama and really american people don't want to see middle class americans pay additional 2000 in taxes n which is what will happen in addition to cuts to programs . we want to cut and the american people want to see cut. there is it a few things. first more americans would blame the republicans and not president obama if we went off of the fiscal cliff. that is a motivation. >> brian: yeah. >> gretchen: ron, why do they feel that way? >> brian:ip totally agree with you. looking at polls and say republicans will get blamed and so why not runuss off of the cliff. >> republicans should have their own plan. the majority of americans in exit polls have said we should balance and ask the wealthiest to pay more. >> gretchen: wait, wait,
they want to go off of the fiscal cliff. then negotiations fail president obama will not get blamed. it is someone else. >> gretchen: marjorie that sounds right other than the middle class getting hit with a tax hike isn't everything that ron just part of the dnc. >> it is it a big issue. president obama and really american people don't want to see middle class americans pay additional 2000 in taxes n which is what will happen in addition to cuts to programs . we want to cut and the...
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the big story is still and will remain the fiscal cliff. every time a policymaker on capitol hill or in the white house makes a speech about this or a station to the media, the markets move very aggressively. yes, there is a case in point where boehner and obama said there was progress that could be made towards a compromise. the markets turn around to 220 points on the dow. but on 20 points and the dow having been down 110 closed up 106 points. that's because john boehner said they could well be some progress on a compromise. that flies in the face of harry reid saying little progress is made. that is what is driving the u.s. markets and the global markets as well. the fed's beige book says there is a tepid growth. you have the housing market against that manufacturing and superstorm sandy. interesting stats expected out of the auto sectors. this could be good news. we think there may ab a pace of somewhere in the region of 15.2 million cars sold in november. the fact is that americans got very old fleet of cars. the average age of car now
the big story is still and will remain the fiscal cliff. every time a policymaker on capitol hill or in the white house makes a speech about this or a station to the media, the markets move very aggressively. yes, there is a case in point where boehner and obama said there was progress that could be made towards a compromise. the markets turn around to 220 points on the dow. but on 20 points and the dow having been down 110 closed up 106 points. that's because john boehner said they could well...
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with that they propose is a counter over for the fiscal cliff. the republican plan has will00 billion for tax freerm 900 billion in mandatory spending cuts and 300 billion in discretionary cuts. the proposal falls short of what the president wants and cannot be taken seriously. >>> we understand they don't agree with everything the president has put on the table but we haven't seen alternatives for that. they have spoken about an avenue and that challenge is welcome. republican leaders have been adamant they don't believe rates ought to go up on the top 2 percent of wealthiest americans. the american people overwhelmingly disagree. the rates have to rise and republicans need to acknowledge that. >> the major difference between the two sides is over taxing on the rich. obama wants to raise taxes on the wealthy. obama wants to eliminate deductions and close loopholes plus cut spending for entitlement programs. the president has said there can't be tax cuts for the rich at the expense of the domestic program which is frustrating for some republicans
with that they propose is a counter over for the fiscal cliff. the republican plan has will00 billion for tax freerm 900 billion in mandatory spending cuts and 300 billion in discretionary cuts. the proposal falls short of what the president wants and cannot be taken seriously. >>> we understand they don't agree with everything the president has put on the table but we haven't seen alternatives for that. they have spoken about an avenue and that challenge is welcome. republican leaders...
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>> reporter: and brian, tonight, the white house is preparing in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fish on! symbicort is for copd including chronic b
>> reporter: and brian, tonight, the white house is preparing in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm,...
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cuts and a $500 billion tax increase. >> "fiscal cliff," are you tired of it? >> i know. we are tired of it. >>> 6:10 now. a trip goes terribly wrong. how a california magician ended up in the hospital. >> the coast guard loses one of its own. how a smuggling investigation off the coast of santa barbara turned deadly. >> and we have a major recall to tell you about. the fire hazard involving two popular ford cars. we'll tell you about that and more when we come back. ,, ,,,,,,,,,, look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible
cuts and a $500 billion tax increase. >> "fiscal cliff," are you tired of it? >> i know. we are tired of it. >>> 6:10 now. a trip goes terribly wrong. how a california magician ended up in the hospital. >> the coast guard loses one of its own. how a smuggling investigation off the coast of santa barbara turned deadly. >> and we have a major recall to tell you about. the fire hazard involving two popular ford cars. we'll tell you about that and more...